Canada's economy is both mature and diverse, benefiting from an advanced services sector, an abundance of natural resources, sound management and free trade agreements. The Canadian economy is the eighth largest in the world according to the IMF. Oil and lumber - and pulp & paper - are two vital industries and exports. Foreign trade is responsible for about 45 percent of the nation's gross domestic product (GDP). Canada enjoys a substantial trade surplus with the US, which absorbs nearly 80% of Canadian exports each year. Canada is the US's largest foreign supplier of energy, including oil, gas, uranium, and electric power.
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